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What Is ‘Marshallianism’?

Keith Tribe

in Constructing Economic Science: The Invention of a Discipline 1850-1950

Published in print:
2022
Published Online:
December 2021
ISBN:
9780190491741
eISBN:
9780190491772
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190491741.003.0006
Subject:
Economics and Finance, History of Economic Thought

Marshall’s intellectual heritage is often described as ‘Marshallianism’, a general designation of his intellectual style as teacher and writer. But what exactly might this mean? While it is not ... More


Beginnings

Ian Kumekawa

in The First Serious Optimist: A. C. Pigou and the Birth of Welfare Economics

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691163482
eISBN:
9781400885206
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691163482.003.0002
Subject:
Economics and Finance, Economic History

This chapter describes Pigou's formative years. Born to Clarence Pigou and Nora Lees in 1877, Pigou spent the first year of his life at Beachlands and later went to school at Harrow at the age of 13. ... More


Introduction

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198286493
eISBN:
9780191596674
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828649X.003.0001
Subject:
Economics and Finance, History of Economic Thought

Discusses economists’ assessments of John Law ranging from the highly negative views of Montesquieu, Adam Smith, Karl Marx, and Alfred Marshall to the strongly positive approach of Joseph Schumpeter.


Ethics, Politics, and Science

Ian Kumekawa

in The First Serious Optimist: A. C. Pigou and the Birth of Welfare Economics

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691163482
eISBN:
9781400885206
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691163482.003.0003
Subject:
Economics and Finance, Economic History

This chapter discusses the development of Pigou's early works, particularly concerning the relationship between ethics and economics. While Pigou was invested with an ethical desire to help the ... More


Constructing Economic Science: The Invention of a Discipline 1850-1950

Keith Tribe

Published in print:
2022
Published Online:
December 2021
ISBN:
9780190491741
eISBN:
9780190491772
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190491741.001.0001
Subject:
Economics and Finance, History of Economic Thought

Constructing Economic Science demonstrates how an existing public discourse, political economy, was transformed in the early twentieth century into a new university discipline: economics. This change ... More


Notes on Computational Complexity

Kumaraswamy Velupillai

in Computable Economics: The Arne Ryde Memorial Lectures

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198295273
eISBN:
9780191596988
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198295278.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

A characterization of dynamic choice attributable to Marshall is used as the vehicle through which to discuss the computational complexity of sequentially rational behaviour. Khachiyan's famous ... More


Physics

Robert G. Hagstrom

in Investing: The Last Liberal Art, Second Edition

Published in print:
2013
Published Online:
November 2015
ISBN:
9780231160100
eISBN:
9780231531016
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231160100.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter examines how various concepts in physics were uncovered and the degree to which they may now be evolving into somewhat different forms with profound implications for finance and ... More


Denaturalizing the Economic Order

Margaret Schabas

in The Natural Origins of Economics

Published in print:
2006
Published Online:
February 2013
ISBN:
9780226735696
eISBN:
9780226735719
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226735719.003.0008
Subject:
Economics and Finance, Economic History

This chapter offers some evaluations of works about economics during the early neoclassical period. It describes how Darwinian biology shaped the content or even the broader context of early ... More


Concluding Remarks

Keith Tribe

in Constructing Economic Science: The Invention of a Discipline 1850-1950

Published in print:
2022
Published Online:
December 2021
ISBN:
9780190491741
eISBN:
9780190491772
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190491741.003.0013
Subject:
Economics and Finance, History of Economic Thought

This concluding chapter draws together the argument around the contrasting styles of teaching and argument exemplified by Cambridge and LSE: Alfred Marshall’s emphasis upon a broad acquaintance with ... More


VALUE IN NEOCLASSICAL ECONOMICS

Patrick L. Anderson

in The Economics of Business Valuation: Towards a Value Functional Approach

Published in print:
2013
Published Online:
September 2013
ISBN:
9780804758307
eISBN:
9780804783224
Item type:
chapter
Publisher:
Stanford University Press
DOI:
10.11126/stanford/9780804758307.003.0008
Subject:
Economics and Finance, Financial Economics

The neoclassical model is familiar to generations of college students. This chapter reviews the emergence of the neoclassical or “marginalist” school of economics in the late 19th century, and its ... More


Still on the Quest for a Unit: Utility Measurement in Wieser, Böhm-Bawerk, Edgeworth, Fisher, and Marshall, 1880–1910

Ivan Moscati

in Measuring Utility: From the Marginal Revolution to Behavioral Economics

Published in print:
2018
Published Online:
December 2018
ISBN:
9780199372768
eISBN:
9780199372805
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199372768.003.0004
Subject:
Economics and Finance, Microeconomics

Chapter 3 moves to the second generation of marginalists and examines how Friedrich von Wieser, Eugen von Böhm-Bawerk, Francis Ysidro Edgeworth, Irving Fisher, and Alfred Marshall conceived of ... More


Origins

Phillip Brown

in The Death of Human Capital?: Its Failed Promise and How to Renew It in an Age of Disruption

Published in print:
2020
Published Online:
October 2020
ISBN:
9780190644307
eISBN:
9780190644345
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190644307.003.0002
Subject:
Sociology, Education, Politics, Social Movements and Social Change

This chapter discusses the history of human capital theory. Before the mid-twentieth century the idea of human capital had a checkered history. Ideas linking the role of human labor to wealth ... More


Conceptualizing Production

Geoffrey M. Hodgson

in Conceptualizing Capitalism: Institutions, Evolution, Future

Published in print:
2015
Published Online:
January 2016
ISBN:
9780226168005
eISBN:
9780226168142
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226168142.003.0011
Subject:
Economics and Finance, Economic Systems

As a prelude to the consideration of capitalist and post-capitalist possibilities, this chapter considers the general nature of the production process. After a review of key contributions by ... More


Completion and Criticism

John Kenneth Galbraith

in Economics in Perspective: A Critical History

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171647
eISBN:
9781400889075
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171647.003.0014
Subject:
Economics and Finance, Economic History

This chapter examines the criticisms hurled against economic ideas associated with the classical tradition in the industrial world during the first decades of the twentieth century. Karl Marx was ... More


The Theory of Competitive Markets

John N. Drobak

in Rethinking Market Regulation: Helping Labor by Overcoming Economic Myths

Published in print:
2021
Published Online:
June 2021
ISBN:
9780197578957
eISBN:
9780197578988
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780197578957.003.0002
Subject:
Law, Competition Law

Chapter 2 explains how the theory of competitive markets became the benchmark for economic analysis, implicitly leading to the assumption that firms actually compete in real-world markets rather than ... More


3 Classicism, Neoclassicism, and the Sherman Act

Herbert Hovenkamp

in The Making of Competition Policy: Legal and Economic Sources

Published in print:
2013
Published Online:
April 2015
ISBN:
9780199782796
eISBN:
9780190261351
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199782796.003.0003
Subject:
Economics and Finance, History of Economic Thought

This chapter outlines neoclassical economic thinking on competition and the problem of monopoly under the Sherman Act. It focuses on a selection from Alfred Marshall's Principles of Economics, and ... More


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